APAC Oriented Strand Board Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
APAC Oriented Strand Board Market Analysis
The Asia-Pacific oriented strand board (OSB) market is estimated to register a CAGR of over 6% during the forecast period.
COVID-19 resulted in the shutdown of various manufacturing and other industries. Strict social distancing norms and prolonged lockdowns were a severe blow to several small and medium-scale industries. The furniture-making industry, which is majorly concentrated around small-medium players, witnessed a complete slowdown during the pandemic. With a lack of labor and disruptions in the supply chain, even the construction industry took a major hit during the pandemic, with many projects getting delayed and some projects being completely shut down. The aforementioned factors resulted in hindered growth of the OSB market during the pandemic.
- With industrial activity slowly resuming to pre-pandemic levels, there is a noticeable pick-up in the construction and manufacturing segment. More and more organizations are now providing the option to work from home, and therefore, the furniture market is also witnessing a boost in demand.
- Rising export from countries like India and China is further expected to drive the demand for OBS in the packaging segment.
- However, lower perceived value amongst consumers and high susceptibility to water-prone damages are potential factors that may hamper the demand for OBS in the market.
- In the Asia-Pacific region, India is showing great promise in dominating the OBS market with growing construction activities and rising exports.
APAC Oriented Strand Board Market Trends
This section covers the major market trends shaping the APAC Oriented Strand Board Market according to our research experts:
Growing Usage of OSB in Construction Sector
- The mechanical properties of oriented strand boards (OSB) make them useful in load-bearing applications in the construction segment. OSBs are extensively used for roof, wall, and floor sheathing purposes. The construction segment in India and China is expected to grow multifold during the forecast period, owing to the growing population, rapid urbanization, and increasing disposable income with the middle class in both countries.
- India has a total of USD 1.4 trillion in infrastructure investment budget under NIP, out of which 16% is allocated to urban infrastructure. With the support of such strong investments, the Indian construction industry is expected to reach USD 1.4 trillion by 2025.
- On the other hand, China's building construction completion value touched CNY 7.94 trillion (USD 1.12 trillion) in 2021, with residential construction contributing to 63% of the total.
- The Chinese government is encouraging the urbanization of many shanty towns into affordable housing. The government also aims to increase the funding for infrastructure construction activity through local government special bonds. The share of local government funding is expected to rise from 18% in 2021 to 39% in 2022.
- OSBs are now finding higher demand than plywood in building construction, owing to their higher strength and greater shear values. Therefore, parallel to the increasing construction segment, the demand for OSB is expected to rise in the region.
India Dominating the Asia-Pacific Market
- India's growth into a prominent economy globally has led to a substantial influx of foreign investments. India received the highest annual FDI inflow during FY 2021-2022 amounting to USD 83.57 billion.
- The rising urbanization of rural areas and the general shift of population from rural areas to metro cities are pushing the demand for better housing and infrastructure.
- In a bid to further enhance the infrastructure sector, the government of India, in its Union Budget for 2022-2023, allocated USD 130.57 billion to the sector. An allocation of USD 9.85 billion was made to the Ministry of Housing and Urban Affairs.
- There has been an increasing trend in home buying and home renovations post-pandemic, which has also resulted in additional sales growth for the furniture-making industry.
- The Indian furniture-making market was valued at around USD 4.74 billion in 2022, and it is expected to further grow at a rate of over 9% during the forecast period.
- In the short term, the furniture demand is also expected to benefit from the work-from-home conditions, as a result of the pandemic.
- The aforementioned factors are expected to play a crucial role in boosting the demand and consumption of oriented strand boards in the region.
APAC Oriented Strand Board Industry Overview
The oriented strand board market in Asia-Pacific is consolidated in nature. Some of the major players in the market include Coilite, Egger Group, Georgia-Pacific LLC, Kronospan, Sonae Arauco, SWISS KRONO Group, West Fraser Timber Co. Ltd., and others.
APAC Oriented Strand Board Market Leaders
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Egger Group
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Kronospan
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SWISS KRONO Group
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West Fraser Timber Co. Ltd.
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Sonae Arauco
*Disclaimer: Major Players sorted in no particular order
APAC Oriented Strand Board Market News
Recent developments pertaining to the market studied will be covered in the full report.
APAC Oriented Strand Board Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Drivers
- 4.1.1 Growing Usage in the Construction Industry
- 4.1.2 Rise of Furniture-Making Industry
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4.2 Restraints
- 4.2.1 Lower Perceived Value and Susceptibility to Water-Prone Damages
- 4.3 Industry Value-Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Volume and Value)
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5.1 Grade
- 5.1.1 OSB/1
- 5.1.2 OSB/2
- 5.1.3 OSB/3
- 5.1.4 OSB/4
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5.2 End-user
- 5.2.1 Furniture
- 5.2.2 Construction
- 5.2.3 Packaging
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5.3 Geography
- 5.3.1 China
- 5.3.2 India
- 5.3.3 Japan
- 5.3.4 South Korea
- 5.3.5 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Arbec Forest Products Inc.
- 6.4.2 Coilite
- 6.4.3 Egger Holzwerkstoffe GmbH
- 6.4.4 Georgia-Pacific LLC
- 6.4.5 Huber Engineered Woods
- 6.4.6 Kronospan
- 6.4.7 RoyOMartin
- 6.4.8 Sonae Arauco
- 6.4.9 SWISS KRONO Group
- 6.4.10 West Fraser Timber Co. Ltd.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Increasing Application of OSB in Structural Insulated Panels (SIPS)
APAC Oriented Strand Board Industry Segmentation
Oriented strand board, or OSB, is a type of engineered wood. It is similar to particleboard, formed by combining adhesives and compressing layers of wood strands or flakes. It is produced in a variety of types and thicknesses and usually has rough and variegated surfaces with individual strips lying unevenly across each other. The Asia-Pacific-oriented strand board market is segmented by grade, end user, and geography. By grade, the market is segmented into OSB/1, OSB/2, OSB/3, and OSB/4. By end user, the market is segmented into furniture, construction, and packaging. By geography, the market is segmented into China, India, Japan, South Korea, and Rest of Asia-Pacific. The report also covers the market size and forecasts for the oriented strand board market in four countries across major Asia-Pacific regions. For each segment, the market sizing and forecasts have been provided on the basis of volume (cubic meter) and value (USD million).
| Grade | OSB/1 |
| OSB/2 | |
| OSB/3 | |
| OSB/4 | |
| End-user | Furniture |
| Construction | |
| Packaging | |
| Geography | China |
| India | |
| Japan | |
| South Korea | |
| Rest of Asia-Pacific |
APAC Oriented Strand Board Market Research FAQs
What is the current Asia-Pacific Oriented Strand Board Market size?
The Asia-Pacific Oriented Strand Board Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Oriented Strand Board Market?
Egger Group, Kronospan, SWISS KRONO Group, West Fraser Timber Co. Ltd. and Sonae Arauco are the major companies operating in the Asia-Pacific Oriented Strand Board Market.
What years does this Asia-Pacific Oriented Strand Board Market cover?
The report covers the Asia-Pacific Oriented Strand Board Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Oriented Strand Board Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific Oriented Strand Board Industry Report
Statistics for the 2024 Asia-Pacific Oriented Strand Board market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Oriented Strand Board analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
